Pay and Specialty - Discovery Science (formerly Discovery Civilization Channel)

Individual Pay, Pay-per-view, Video-on-demand and Specialty Services - Financial Summary 2011-2015

Table of Contents

Undertaking # Service Name Licensee Licensee Ultimate Owner Type Year
305426191 Discovery Science (formerly Discovery Civilization Channel) Discovery Science Canada Company BCE Inc. Specialty (category B service) 2015

Revenue ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Residential/bulk/SMATV subscriber revenue 1,713,832 1,961,970 14.48 2,332,952 18.91 2,641,887 13.24 2,721,001 2.99 12.3
DTH revenue 1,707,173 1,859,912 8.95 2,001,671 7.62 2,044,230 2.13 1,989,687 -2.67 3.9
Local advertising revenue 0 0 0 0 0
National advertising revenue 726,487 789,768 8.71 846,348 7.16 920,297 8.74 1,146,636 24.59 12.1
Other revenue 0 0 0 0 0
Total Revenue 4,147,492 4,611,650 11.19 5,180,971 12.35 5,606,414 8.21 5,857,324 4.48 9.0

Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Programming and Production 1,733,001 1,843,188 6.36 1,787,465 -3.02 1,608,904 -9.99 2,101,017 30.59 4.9
Technical 757,591 798,186 5.36 797,107 -0.14 815,356 2.29 823,362 0.98 2.1
Sales and Promotion 477,729 363,587 -23.89 363,070 -0.14 304,922 -16.02 327,810 7.51 -9.0
Administration and General 784,019 876,705 11.82 986,741 12.55 968,464 -1.85 1,003,082 3.57 6.4
Total Expenses 3,752,340 3,881,666 3.45 3,934,383 1.36 3,697,646 -6.02 4,255,271 15.08 3.2

Performance ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Income 395,152 729,984 1,246,588 1,908,768 1,602,053
Depreciation 57,339 67,820 18.28 71,224 5.02 79,933 12.23 93,077 16.44 12.9
P.B.I.T. 337,813 662,164 1,175,364 1,828,835 1,508,976
Interest Expense 0 0 -11,457 -11,958 4.37 -15,158 26.76
Adjustments - Gain (Loss) 9,200 7,442 -19.11 0 -100.00 0 0
Pre-tax Profit 347,013 669,606 1,186,821 1,840,793 1,524,134

Canadian Programming Expenses ($)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Acquisition of rights 410,120 399,800 -2.52 349,020 -12.70 440,371 26.17 724,825 64.59 15.3
Script & concept 0 0 45,203 21,653 -52.10 0 -100.00
Filler Programming + Program Production 305,172 340,136 11.46 211,189 -37.91 86,480 -59.05 276,806 220.08 -2.4
Investment in Programming 0 0 0 0 0
Total Canadian Programming 715,292 739,936 3.45 605,412 -18.18 548,504 -9.40 1,001,631 82.61 8.8
Canadian Programming/Revenue (%) 17.25 16.04 11.69 9.78 17.10

Staff
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Total Remuneration ($) 183,025 204,324 11.64 172,775 -15.44 153,860 -10.95 155,257 0.91 -4.0
Average Staff Count 2.5 2.8 12.00 2.17 -22.50 2.17 0.00 2.17 0.00
Avg Remuneration ($) 73,210 72,973 -0.32 79,620 9.11 70,903 -10.95 71,547 0.91 -0.6

Subscribers
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Subscribers 1,399,775 1,448,006 3.45 1,562,630 7.92 1,617,059 3.48 1,647,679 1.89 4.2

Profitability (%)
2011 2012 Var % 2013 Var % 2014 Var % 2015 Var % CAGR (%)
Operating Margin 9.5 15.8 24.1 34.0 27.4
P.B.I.T. Margin 8.1 14.4 22.7 32.6 25.8
Pre-tax Margin 8.4 14.5 22.9 32.8 26.0

CAGR = Compound Annual Growth Rate

DTH = Direct-to-Home

SMATV = Satellite Master Atenna Television

P.B.I.T. = Profit Before Interest and Tax

Var = Variation

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